Olympia Development Announces Third Co-Developer Site for Detroit Developers

Invitations have been sent for 44 and 48 W. Adams, the third site selected for Olympia Development’s Co-Developer program. Detroit-based development teams were invited to submit proposals for the next redevelopment opportunity that uniquely combines two parcels situated on the north side of West Adams directly across from Grand Circus Park West in The District Detroit. The selected site, formerly the Fine Arts Building, is approximately a half-acre and features the facade of a historic building designed by Louis Kamper and is located in the Grand Circus Park Historic District.

Olympia’s Co-Developer Program was created to provide opportunities for Detroit-based, Detroit-headquartered, or Detroit resident-owned development companies. Proposals for the first two properties selected as part of the Co-Developer Program, 475 Peterboro and 81 W. Columbia, generated immense interest and Olympia is currently reviewing the innovative and transformative proposals submitted.

“The response to our Co-Developer Program has been incredible. The team strategically selected locations that would inspire both action and creativity. The West Adams site is unique and represents a rare opportunity for Detroit developers to blend Detroit’s rich history with a smart and innovative design,” said Eric Tuomey, Vice President of Development at Olympia Development. “We are eager to explore the redevelopment proposals from partners who share our vision improving the lives of Detroiters.”

44 & 48 W. Adams (Fine Arts Building) is the third building announced in Olympia Development’s Co-Developer Program, with 475 Peterboro (Woodstock) and 88 W. Columbia Street (Blenheim) proposals and agreements currently under evaluation:

• 475 Peterboro Street was designed in the Beaux-Arts style by the architectural firm Pollmar & Ropes and opened in 1914 as The Woodstock Apartments. The building is 47,500 square feet and originally had 71 apartments. The property is located between Cass Avenue and 2nd Avenue across from Detroit Shipping Company.

• 81 W. Columbia Street was designed in the transitional style by architectural firm Baxter and O’Dell in 1909 as the Blenheim Apartments. It originally comprised 19 apartments and a speakeasy. The building is four stories tall and is approximately 17,500 square feet. The Blenheim is located at the southeast corner of Columbia Street and Park Avenue adjacent to the Fox Theatre and Little Caesars Global Headquarters.

Olympia’s Co-Developer Program is part of The District Detroit Community Benefits Agreement and was reached in cooperation with the Neighborhood Advisory Committee (NAC).

“I’d like to thank the members of the NAC for working with us to further shape this pioneering program that is tapping into the deep talent and passion in Detroit’s development community,” said Rian English Barnhill, Vice President of Government and Community Affairs at Olympia Development. “The Co-Developer Program is one of the many ways we partner with Detroiters to bring equitable development to the city.”

Olympia Development has other Co-Developer partnerships underway: The Residences @150 Bagley (The United Artists Building), 64 Edmund Place and Henry Street Apartments. Additional sites continue to be evaluated for future Co-Developer opportunities. For more information on the Co-Developer Program please visit TheDistrictDetroitOC.com.